Is It True That New York City Property Prices Never Go Down?

Chris at Hauseit® (https://www.hauseit.com) goes over the question: Is it true that New York City Property Never Goes Down?

Save money when buying, selling and renting real estate in New York and Florida with Hauseit. Available in NYC, Long Island, the Hudson Valley and South Florida. Established 2014.
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There's a saying among hard-core New Yorkers, and especially NYC real estate brokers, and that's the fact that NYC real estate prices never go down. They point to the city's resilience post the World Trade Center terrorist attacks, and the Great Financial Crisis for 2007-2008 as examples why NYC real estate prices always rebound.

However, will NYC property prices actually recover this time around? Were the events of 2020 the final death blow for the city? Or were longer trends such as poor governance a factor for the sustained out-migration we are seeing years later still?

We explore this mystery and explain further in the following video.
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Hauseit Group LLC, Licensed Real Estate Broker
Tel: +1 (888) 494-8258
Email: team@hauseit.com
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